+£32
Flex Regular Saver (6.5%)20 mins
NationwideFlex Regular Saver (6.5%)
£32 Free Cash•20 mins
£32 Free Cash
+£32What is Nationwide?
Nationwide Building Society is the world’s largest building society, founded in 1884. As a mutual, it’s owned by its members rather than shareholders, and serves over 17 million customers across the UK.
They offer current accounts, savings, mortgages, ISAs, and personal loans. Nationwide is known for competitive savings rates and has consistently been one of the higher-paying high street brands for regular savers.
You’ll need a Nationwide current account to open this Flex Regular Saver. If you don’t already have one, we’d recommend doing the Nationwide bank switch first — you’ll pick up a switching bonus and get the current account you need in one step.
Launched
1884
Customers
17m+
Google Play
4.8 (174k)
★★★★★★
Key Terms
Profit
+£32
Interest rate
6.5% AER
(variable)
Monthly depositUp to £200
Term12 months
Total max deposit
£2,400
(12 × £200)
Withdrawal terms: Max 3 withdrawals with no rate impact. A 4th withdrawal permanently drops the rate from 6.50% to 1.05% for the rest of the term.
Requires: A Nationwide current account
Step by Step Guide
Chris's overview
Optional·2 min read
The Nationwide Flex Regular Saver pays 6.50% on up to £200 a month for 12 months. That’s around £32 more than you’d earn in a standard easy-access account on the same deposits.
You can make up to 3 withdrawals during the term without any impact on your interest rate. A 4th withdrawal permanently drops the rate from 6.50% to 1.05% for the rest of the term. The rate is variable, so it could change at any time.
You need a Nationwide current account to open this. If you’ve already done the Nationwide bank switch, you’re all set. If not, do that first — you’ll pick up the switching bonus too.
1
Open a Nationwide Flex Regular Saver
10 mins
- Log in to your Nationwide Internet Bank or Banking app
- Navigate to Savings and select ‘Flex Regular Saver’
- Open the account — you’ll need to make your first deposit within 28 days or the account will be closed
- Your 12-month term starts from the date you open the account
2
Make your first transfer
5 mins
- Transfer your chosen amount (up to £200) into your new Flex Regular Saver
- This first deposit must arrive within 28 days of opening the account
- You can transfer from your Nationwide current account or any other UK bank account via electronic transfer
Transfer up to £200 each calendar month
2 min
- Deposits are per calendar month, so transfer early (ideally the 1st) to earn interest for the full month.
- Automate it: set up a standing order to your Flex Regular Saver. If your salary arrives at the end of the month, schedule the order for the 1st of the month.
- Prefer doing it manually? Set a monthly reminder instead.
- You can deposit any amount from £1 to £200 per calendar month. Any overpayment above £200 will be returned.
3
Withdraw your balance365d
5 mins
Your 12-month term ends
- After 12 months, your account converts to an instant access savings product automatically
- The instant access rate will be lower — so move your money to the best available savings account
- Nationwide will contact you before maturity with your options
- You can withdraw via Internet Bank, Banking app, or in branch
Offer Complete
Done? Tick off each step above to see your total.
Nationwide Full Review
Completed the offer? Awesome! Here's our full review on why Nationwide could work well for you going forward.
Nationwide Building Society is the UK's largest building society and one of the most trusted financial institutions in the country. Founded in 1884, they now serve over 17 million members. As a mutual organisation, they're owned by their members rather than shareholders, which means profits go back into better rates and services rather than dividends.
Is Nationwide safe?
Nationwide is one of the safest places to put your money. They're regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Your deposits are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS).
As a building society, Nationwide is owned by its members rather than shareholders seeking profits. This mutual structure means they prioritise member interests over maximising shareholder returns. They've been around for over 140 years and have weathered every financial crisis since then.
Who is Nationwide for?
Nationwide is ideal for anyone looking for a reliable, trustworthy bank with strong customer service and a branch network. They're particularly good for:
• People who value in-person banking - they have the largest branch network in the UK • Those who want competitive savings rates • Anyone looking for a mortgage (they're one of the UK's biggest lenders) • People who prefer a mutual over a traditional bank
Top Features
1
Largest branch network
605 branches across the UK - more than any other bank
2
Highly rated app
4.8 stars on both app stores with over 800k reviews combined
3
Member owned
As a mutual, profits go to better rates and services, not shareholders
4
FlexDirect interest
Earn 5% interest on balances up to £1,500 for the first year
Pros and Cons
Pros
- ✓Largest building society - very stable and trustworthy
- ✓Best-in-class mobile app
- ✓Huge branch network for in-person help
- ✓FlexDirect offers competitive interest on current account
- ✓Excellent customer service reputation
Cons
- ✗Some features not as modern as digital-only banks
- ✗Savings rates not always market-leading
- ✗Some account types have fees
Chris's Verdict
Nationwide is one of my favourite banks. The combination of being a mutual (so they actually care about customers), having physical branches when you need them, and a genuinely excellent mobile app makes them hard to beat.
The FlexDirect account is particularly good if you're new to Nationwide - 5% interest on up to £1,500 for a year is one of the best current account rates around. And as a mutual, you become a member when you open an account, which means you get a say in how they're run.
